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Top nickel producer said to budget for 24% lower price this year

The #Russian company that vies with #Vale as the biggest producer is budgeting for an average of about $9 000 a metric ton in 2016, said two people familiar with the situation.

The figure is 24% lower than the average rate of $11 890 a ton in 2015, and shows #Norilsk is planning for the possibility that prices for the #Nickel will fail to recover after plunging by 47% in the past year to the lowest level since 2003.